Summer is the ideal time to consider registration for UCs 2014-2015 academic year for employees and their dependents, according to Mary Uhl, Senior Benefits Specialist in UC's Human Resources Department.
Its never too early to submit Tuition Remission Application and verification documents, Uhl said. Students are encouraged to register prior to the first day of classes. Otherwise, tuition remission will not automatically apply to the students account. In this case, the student will receive a notice regarding late payment and manual intervention is required.
Children must be claimed as dependents on an employees Internal Revenue Service Form 1040. A copy of an employees most recent 1040 is required for verification. If a child is not an employees tax dependent a notarized Tuition Remission Affidavit and supporting documentation is required. A birth certificate may also be required for initial Tuition Remission requests.
For initial tuition remission requests for a spouse or domestic partner a marriage certificate and tax documentation is required. For subsequent requests, only an updated Tuition Remission Application is required.
The Universitys tuition remission benefit is generally tax-free to employees with one exception - graduate studies. For graduate programs, the value of the Tuition Remission benefit that exceeds $5,250 during the calendar year is included as taxable earnings on an employees paycheck and will be subject to tax withholding. Graduate tuition remission is fully taxable for dependents, spouses and domestic partners. Consult a tax adviser for more information on the tax treatment of education expenses, including IRS requirements.
Uhl advises UC employees to keep in mind a few reminders:
The tuition remission benefit for dependents, spouses and partners covers tuition only. An employee (or dependent) is responsible for paying all other fees charged to the students account.
Any balance due not paid by date due is subject to late fees.
Do not ignore a tuition bill. Please take the time to view the summary and contact Student Accounts or Human Resources regarding questions.
Dependent (including spouse and domestic partner) Tuition Remission is limited to 144 undergraduate hours.
Dependents (including spouse and domestic partner) must meet satisfactory academic standards in order to be eligible for Tuition Remission. Those who do not meet these requirements have already been contacted and will be notified again this summer.
The University of Cincinnati offers a tremendous Tuition Remission benefit, so dont wait to utilize this great plan, Uhl said.
